What Account is Credited When a Debit Card is Used to Purchase Supplies?
When a debit card is used to buy supplies, the Cash Account is credited, reducing the cardholder's checking account balance and accurately recording the decrease in available funds.
by Sai V
Updated Oct 27, 2023
Article continues below advertisement
What Account is Credited When a Debit Card is Used to Purchase Supplies?
When a debit card is used to purchase supplies, the Cash Account is credited. This means that the amount of the purchase is directly deducted from the cardholder's checking account, reducing the cash balance in the account. The credit in the Cash Account reflects the decrease in available funds due to the transaction, ensuring accurate record-keeping of the financial transaction.
Related Articles
Quiz Questions On Insurance and Risk Management - 3
410 days ago
Quiz Questions on Credit Management and Awareness
411 days ago
Disclaimer : The above information is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site.